Can I retire at age 61 with 920,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$75,973$75,296$74,636$73,991$73,362$72,656
2 years$37,610$36,910$36,231$35,573$34,934$34,223
3 years$24,824$24,121$23,444$22,792$22,164$21,470
4 years$18,433$17,731$17,061$16,420$15,807$15,136
5 years$14,599$13,902$13,240$12,612$12,017$11,369
6 years$12,044$11,352$10,700$10,086$9,508$8,886
7 years$10,219$9,533$8,892$8,292$7,733$7,135
8 years$8,852$8,172$7,541$6,956$6,415$5,843
9 years$7,788$7,115$6,495$5,925$5,402$4,855
10 years$6,938$6,271$5,662$5,108$4,603$4,081
11 years$6,243$5,583$4,985$4,445$3,959$3,461
12 years$5,664$5,011$4,424$3,899$3,431$2,956
13 years$5,175$4,529$3,953$3,442$2,992$2,540
14 years$4,756$4,116$3,552$3,056$2,622$2,194
15 years$4,393$3,760$3,207$2,725$2,309$1,902
16 years$4,076$3,450$2,907$2,440$2,041$1,655
17 years$3,796$3,177$2,645$2,192$1,809$1,445
18 years$3,548$2,936$2,415$1,976$1,609$1,264
19 years$3,326$2,721$2,211$1,785$1,434$1,109
20 years$3,127$2,529$2,029$1,617$1,281$974
21 years$2,947$2,355$1,866$1,467$1,146$857
22 years$2,783$2,199$1,720$1,334$1,027$755
23 years$2,634$2,056$1,588$1,215$922$666
24 years$2,497$1,927$1,469$1,108$829$589
25 years$2,372$1,808$1,360$1,012$746$520
26 years$2,256$1,699$1,262$925$672$460
27 years$2,150$1,599$1,172$847$606$408
28 years$2,050$1,507$1,089$776$547$361
29 years$1,958$1,422$1,014$712$494$320
30 years$1,873$1,343$944$653$446$284
31 years$1,793$1,269$880$600$403$252
32 years$1,718$1,201$821$551$365$224
33 years$1,648$1,137$767$507$330$199
34 years$1,582$1,078$716$466$299$177
35 years$1,520$1,022$670$429$271$157
36 years$1,461$970$627$395$245$139
37 years$1,406$922$586$364$222$124
38 years$1,354$876$549$336$202$110
39 years$1,305$833$515$310$183$98
40 years$1,258$792$482$286$166$87
41 years$1,213$754$452$264$150$78
42 years$1,171$718$424$243$136$69
43 years$1,131$684$398$224$124$61
44 years$1,093$652$374$207$112$55
45 years$1,057$622$351$191$102$49
46 years$1,022$593$330$177$93$43
47 years$989$566$310$163$84$38
48 years$957$541$291$151$76$34
49 years$927$516$273$140$69$30
50 years$898$493$257$129$63$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $920,000, adding $5,617 every year, while hoping to spend $41,366 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 35/36/29 Blend
60$920,000$920,000$920,000$920,000
61$1,019,634$970,874$956,614$1,046,260
62$1,079,623$974,434$944,647$1,070,296
63$1,144,346$976,781$930,894$1,092,111
64$1,214,239$977,814$915,249$1,114,860
65$1,289,787$977,422$897,605$1,138,656
66$1,371,519$975,490$877,848$1,163,625
67$1,460,018$971,893$855,861$1,189,909
68$1,555,925$966,501$831,517$1,217,670
69$1,659,944$959,174$804,688$1,247,088
70$1,772,851$949,767$775,238$1,278,366
71$1,895,498$938,121$743,024$1,311,730
72$2,028,822$924,072$707,898$1,347,435
73$2,173,854$907,444$669,705$1,385,767
74$2,331,730$888,051$628,283$1,427,044
75$2,503,697$865,696$583,461$1,471,623
76$2,691,130$840,171$535,063$1,519,902
77$2,895,541$811,255$482,903$1,572,325
78$3,118,594$778,715$426,789$1,629,389
79$3,362,122$742,303$366,517$1,691,646
80$3,628,140$701,758$301,877$1,759,713
81$3,918,869$656,803$232,649$1,834,274
82$4,236,754$607,146$158,603$1,916,095
83$4,584,485$552,478$79,498$2,006,023
84$4,965,025$492,472$0$2,105,004
85$5,381,637$426,783$0$2,215,611
86$5,837,914$355,046$0$2,363,837
87$6,337,813$276,875$0$2,526,437
88$6,885,692$191,864$0$2,704,937
89$7,486,349$99,581$0$2,901,026
90$8,145,070$0$0$3,116,570
91$8,867,676$0$0$3,353,801
92$9,660,581$0$0$3,657,531
93$10,530,846$0$0$3,991,033
94$11,486,252$0$0$4,357,305
95$12,535,369$0$0$4,759,652
96$13,687,638$0$0$5,201,712
97$14,953,459$0$0$5,687,495
98$16,344,289$0$0$6,221,416
99$17,872,749$0$0$6,808,342
100$19,552,744$0$0$7,453,633